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watching the fiscal cliff finale along with the rest of us. cnbc's mary thompson is live at the new york stock exchange with what's moving your money. tough week for stocks last week, mary. what are investors looking for today? >> it looks like a slightly more optimistic tone in the markets this morning, chris. the major averages higher across the board as the number of headlines suggest that progress is being made on perhaps a band-aid or smaller deal to avoid the fiscal cliff. that is giving investors some hope today after what you mentioned was a very difficult week last week. we had five straight sessions of losses for the major indices. as basically the realization started to grow we aren't going to reach any kind of grand bargain. i think if you looked back about two months ago investors were more optimistic this would indeed happen. again as we moved toward that deadline right now investors are hoping at least for a small deal. so that is why we're seeing some strength in the markets today. interesting to note, though, i know you were talking about sequestration with your earlier
about what 2013 will bring. fears of falling off the fiscal cliff are fueling this pessimism. 45% think it's unlikely a budget deal will be reached between the president and congress. but nbc news's political director chuck todd says despite that possibility, going for a small, stripped down agreement isn't all good. >> i think politically, the president's making a mistake to go for a small deal. he'll lose leverage as the year goes on. he'll get a big political victory but he should try one more time for the big deal. you had nearly 200 house republicans about to vote to raise taxes on millionaires. >> joining me now, joe sustek and david winston. thank you both for being here today. i'll start with you, congressman. does the president's ability to get what he wants diminish over time? should he go big one more time? >> for the american people. it is not about him and his leverage. i think the president needs to try to reach the big compromise with speaker boehner and the two men came very close. they were a few hundred billion dollars away. we need $3 trillion in debt redust over a de
going to have another fiscal cliff or a bunch that come to fruition here where we never see really a solution? >> well, it was very clear from the time that the super commit ee set its deadlines and the fact that the bush tax cuts were expiring, all this stuff was coming together. we saw this coming at least a year and a half away. it wasn't entirely clear whether or not they could come to some type of agreement, but it was quite possibly they wouldn't. there ought to be a new rule in congress that, look, you cannot create any more artificial crises if you can't actually resolve them. it's not fair to people to go and, you know, create all this panic if you can't save, you know, the situation. democrats are in a better spot after january 1st. everyone has known that. republicans have predicted, democrats have predicted it, they're going to pass 250, boehner will be reelected speaker, then he has to figure out how to rule the next two years. >>> ryan, joann, thanks for being with us. >>> we'll be right back. new years clutter is no match for someone with big ideas. with a new projec
, finish it off, bring it to today. there's the fiscal cliff. got to be the most recent of the big points in politics for 2012. >> absolutely. that shows just how fleeting a victory is in this town. president obama won a stronger than predicted victory. he basically got every state that was seen as being open up for play, up for grabs. he won them all. he won ohio. he won virginia, he won fa fla. he campaigned largely on this issue of middle-class tax cuts, fairness for the middle class, give the middle class a chance. he saw his win as a validation of the strategy, this philosophy that he ran on, but now we've country to a political reality in washington, total gridlock. the republicans do not agree his victory means the american people endorsed his vision for the wealthy paying more. so far that's not been enough to carry him to the victory. >> when it comes to politics, 2012, a big one for you and me and everyone else. appreciate it, rachel smolkin. >> thank you very much. >>> thomas roberts is up next. good friday. >>> good friday. hi, everybody. the next hour, a last-ditch effort to
Search Results 0 to 3 of about 4